The increasing global demand for carbon-neutral energy sources, such as nuclear power, has sparked a renewed interest in uranium exploration and production. Furthermore, efforts to strengthen domestic uranium mining capabilities and reduce reliance on imports have created favorable conditions for companies operating within the United States.
In this dynamic landscape, Kraken Energy Corp. (CSE: UUSA; OTCQB: UUSAF) emerges as a promising company with a strategic focus on uranium exploration and development in the US. In the last few months Kraken Energy has made notable strides in advancing its projects.
At the Harts Point Project, Kraken Energy has executed a definitive option agreement to acquire up to a 75% interest in the property, which is strategically located in the Colorado Plateau—an area renowned for its uranium production. The historical mining activity in the region and the presence of off-scale radioactivity have significantly de-risked Kraken's upcoming drill program. With drill permits in place and the majority of permitting completed, the company is poised to embark on an exploration campaign that could unlock the property's vast uranium resources.
At Kraken's Garfield Hills Uranium Property, the company's maiden drilling program has yielded encouraging results. The completed drill holes have confirmed historical drilling and extended the mineralization at the property. Furthermore, regional exploration and new soil sampling have identified high-grade surface and soil samples, highlighting the significant potential of the property. With plans for a Phase II drilling program in the pipeline, Kraken Energy aims to further delineate the mineralization and unlock the property's value.
In addition to these developments, Kraken Energy has also reported the interpretation of a recently flown geophysical survey on its Apex Property in central Nevada. The survey results have identified numerous conductive anomalies associated with known uranium mineralization and revealed high-priority blind targets, strengthening the prospectivity of the property. With an updated geological model and a clearer understanding of the Apex Property, Kraken Energy is confident in its drill targets and is actively advancing the permitting process.
Learn more about this and Kraken Energy's other developments here: https://krakenenergycorp.com/news/ Posted on behalf of Kraken Energy Corp.